Pengaruh Struktur Modal, Pertumbuhan Perusahaan dan Capital Expenditure terhadap Nilai Perusahaan dengan Profitabilitas sebagai Variabel Intervening pada Perusahaan yang Terdaftar di BEI

Abstract

This study aims to determine how the effect of capital structure, company growth, and capital expenditure on profitability and how the impact on firm value. Companies in the property and real estate industry listed on the Indonesia Stock Exchange as the population in this study with a total of 83 companies. The data sample in this study uses purposive sampling, namely companies that are listed on the main board and have complete financial reports from 2019 to 2021, resulting in 31 samples of property and real estate companies. The methods and techniques used in data collection are by observing the financial statement data then entering the financial data into the formula and conducting analysis based on the existing formula calculations. The data analysis technique in this study uses the Normality Test, Multicollinearity Test, Heteroscedasticity Test, Multiple Linear Regression Test, T Test, Determinant Coefficient, with the help of data processing by IBM SPSS and finally the mediation effect analysis using the Sobel Test. The results showed that capital structure, company growth, and capital expenditure had a significant effect on profitability and firm value, but profitability was unable to mediate capital structure and capital expenditure on firm value.